DREAM / The Prime Minister resigns and wakes up under the Parisian bridge!

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2026-10-08 08:55:29Kosova&Bota SHKRUAR NGA REDAKSIA VOX

A major financial scandal in Turkey is causing shockwaves in the country's markets and affecting figures linked to the ruling AKP party. Authorities have ordered the liquidation of 131 investment funds, with assets estimated at around $16-18 billion, while some 456,000 investors are exposed to the crisis. The case has also taken on a political dimension, as people with ties to the AKP have been named in the investigation. Former minister and deputy party leader Fatma Betül Sayan Kaya has resigned and her assets have been frozen, following opposition accusations that she and her husband profited significantly from investments before the collapse. Kaya has denied the allegations.

President Recep Tayyip Erdoğan has said that those who profited illegally will be forced to return the money. So far, five of the 85 people detained in the investigation have returned the funds to a special account opened by the government. At the heart of the scandal are funds that invested in small-cap stocks, triggering sharp price increases and then massive sales. After the rules were changed in late August, investors began to withdraw their money, while some funds were unable to meet liquidation demands. Turkish authorities have compared the scheme to a Ponzi-type scam.

The shock was also reflected in the Istanbul Stock Exchange, which recorded a sharp decline. In the two weeks to September 25, the main index lost more than 11%, while dozens of stocks suffered sharp declines. Finance Minister Mehmet Şimşek has stated that the situation does not pose a systemic risk and that the problem is isolated. Meanwhile, the Turkish Capital Markets Authority has started interim payments, up to 1 million lira per investor for each fund, while the final amount to be recovered will depend on the liquidation process.

The scandal is also raising questions about the supervision of financial markets and Turkey's credibility as a destination for foreign investors. Although there is no immediate threat to the financial system, the consequences of the crisis could last beyond the completion of the investigations and the liquidation of the funds.


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